Tyche Wealth Partners LLC Buys 170 Shares of Alphabet Inc. (NASDAQ:GOOG)

Tyche Wealth Partners LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.8% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 9,718 shares of the information services provider’s stock after acquiring an additional 170 shares during the period. Tyche Wealth Partners LLC’s holdings in Alphabet were worth $1,518,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principia Wealth Advisory LLC boosted its stake in Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after buying an additional 85 shares during the period. LSV Asset Management bought a new position in Alphabet in the 4th quarter worth about $27,000. WealthTrak Capital Management LLC purchased a new stake in shares of Alphabet in the 4th quarter valued at about $38,000. Mountain Hill Investment Partners Corp. bought a new stake in shares of Alphabet during the 4th quarter valued at about $39,000. Finally, Noble Wealth Management PBC purchased a new position in shares of Alphabet during the fourth quarter worth about $43,000. 27.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. UBS Group decreased their price objective on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Needham & Company LLC lowered shares of Alphabet from a “buy” rating to a “cautious” rating in a report on Friday, May 2nd. JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $180.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Rosenblatt Securities upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $171.00 price target on shares of Alphabet in a research report on Friday, April 25th. Three analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $204.88.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,837,500.00. Following the sale, the director now directly owns 261,966 shares in the company, valued at approximately $45,844,050. This trade represents a 3.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $176.68, for a total value of $5,742,100.00. Following the transaction, the chief executive officer now directly owns 2,555,196 shares in the company, valued at $451,452,029.28. This trade represents a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 216,306 shares of company stock worth $35,782,927. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

GOOG opened at $171.49 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The stock’s 50 day simple moving average is $166.90 and its 200 day simple moving average is $176.24. The firm has a market cap of $2.08 trillion, a price-to-earnings ratio of 19.12, a PEG ratio of 1.18 and a beta of 1.01. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm had revenue of $90.23 billion for the quarter, compared to analysts’ expectations of $89.30 billion. During the same quarter last year, the business earned $1.89 earnings per share. The business’s revenue was up 12.0% on a year-over-year basis. As a group, analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) is 9.36%.

About Alphabet

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.